Pyeongchon Hanyang, Samsung and Doosan Take First Step Toward Integrated Reconstruction, Sign Preliminary Project-Implementer Agreement with Korea Asset Trust

[Financial News] Pyeongchon A-5 District, a large-scale integrated reconstruction project in Pyeongchon New Town in Anyang-si, Gyeonggi Province, is moving ahead more quickly after adopting a trust-based approach.
Korea Asset Trust said on the 5th that it had signed an MOU with the residents’ representative group of Pyeongchon A-5 District (Hangaram Hanyang, Hangaram Samsung and Hangaram Doosan) to serve as the preliminary project implementer for the integrated reconstruction project. The agreement was drawn up to ensure the smooth and swift progress of the redevelopment project in Pyeongchon A-5 District, in line with the Special Act on the Maintenance and Support of Aging Planned Cities. The two sides plan to establish a close cooperation framework and pool their capabilities from the early stages of the project, including the transparent fund management characteristic of trust companies and professional project management.
Pyeongchon A-5 District is a large-scale integrated reconstruction project that brings together three apartment complexes: Hangaram Hanyang, Hangaram Samsung and Hangaram Doosan. The plan is to demolish the existing complex of 2,096 homes on a site of about 129,708 square meters and redevelop it as a large residential complex with 2,839 homes—743 more than before. The project is expected to dramatically improve the aging residential environment and make the area a new landmark representing Pyeongchon New Town.
The area’s prime location and transport advantages are also drawing attention. Pyeongchon A-5 District is seen as a direct beneficiary of the Wolgot–Pangyo Line, which is scheduled to open in the future. Anyang Stadium Station (provisional name) is planned near the Anyang Sports Complex intersection, close to the apartment complex. Once the line opens, travel times to major business districts in the Seoul metropolitan area, including Pangyo, are expected to fall, further boosting local residential values along with the premium from improved regional connectivity.
Korea Asset Trust plans to establish a close cooperation framework with the residents’ representative group following the agreement and systematically support subsequent procedures, including its designation as preliminary project implementer and project implementer.

[email protected] Jeon Min-kyung Reporter